We have all had those days. Those mornings over the course of our careers when getting out of bed and going to work was the last thing we wanted to do, but you did. You worked hard for decades and you’ve finally done it. You reached the point where you’re ready to retire. That first Monday when you sleep in as late as you want…There are few moments as glorious.
This is the point where many retirees face one of the hardest aspects of being retired: switching gears (mentally) from amassing wealth to supporting yourself with it. This transition from accumulation to distribution sounds obvious, but you might be surprised by how strange it feels. You spent your entire adult life earning a paycheck and always adding to your retirement savings, your nest egg, “the pile.” Now the pile is as large as it is ever going to be and you need to be strategic about how you spend against it. Then you realize it: Your savings are finite now.
When this finally sinks in, unless you own the Seahawks like Paul Allen, you might feel butterflies. You may find yourself staring at the ceiling at night, thinking about the question that all retirees stress over. “Am I going to outlive my savings?” You’re supposed to be enjoying life to the fullest and catching more Zs, not losing sleep with this uncertainty hanging over you. It’s ironic because technically, at this point in time you are the richest you ever have been or will be again, yet instead of confidence, you might feel vulnerable if you do not know how long your nest egg will last.
Madrona has the solution with retirement plan services to fit your situation. It is fast, painless, and most importantly, could add years of income to your portfolio. As the President and CEO of one of Washington’s premier retirement planning firms, Brian Evans has years of experience helping retirees ensure they’ll never outlive their savings. It starts with a complimentary financial review where your advisor will get to know you and your story, ask about your goals and profile, explain some financial retirement planning realities, and ultimately help you make some educated decisions by guiding you through factors that affect your financial planning for retirement.